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INVESTMENTFEST OF THE NINETIES;NY becomes integral part of German investors' strategy.
Crain's New York Business, May, 2000 by wipperfurth, heike
by 1998, deutsche bank ag had been looking for a way to enter the U.S. market for a while. It had held talks with several American banks and investment firms, including J.P. Morgan & Co., Lehman Brothers and Bankers Trust. The opportunity to pounce came in the fall of that year, when the declining prices of American bank stocks became too good to resist.
That November, it chose Bankers Trust as its gateway to the American investment banking world, paying $10 billion to acquire the tarnished institution. The New York-based bank, with $156 billion in assets, was in dire straits after losing $488 million from trading and investments following Russia's default on its debt. ``The Russian crisis came along and made Bankers Trust, from a pricing perspective, much more...
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